​​And falling HVol is usually associated in a bull trend or trendless market. ​​​​And rising HVol is usually associated in a bear trend or trendless market.

​​HVOL did reached on February 16 2016 a high level last seen back ​in September​2015 after ​​we had a strong correction trade pattern in SRFI. SP500 Financial Sector (SRFI) Peaked at 344.90 on July 23rd and is making a Lower High and Lower Low Technical Pattern since then.

​​​​​​In fact, when we broke a Rising Wedge Pattern on August 20 2015 at 329.80 and also the 200 DMA (Day Moving Average​​ - Green Line on the chart below) then at 329.73 on SRFI ​, ​game was over on a short term basis and then ​reached then the panic ​selling level on August 24 at 299.11.​​​Since February 16 2016 til now, we had a decrease​​ in the Historical ​Volatility ​on SP500 Financial Sector (SRFI) ​with a strong bullish ​trend in Financials since... Closing price on SRFI on March 28 was at 302.06.

​​​​Historical Volatility (HVol) on SP500 Financial Sector ​(SRFI) is falling at a level that we did see in the previous peak in price like in August 2015 and Novemver 2015. (See Chart below, Bottom Panel - Red Trendline - Ellipse)

​​​​​​But the most interesting technical factor is that the ​Historical Volatility (HVol) on SP500 Financial Sector ​(SRFI) is falling at previous market top at a time that we retested the previous peaks (August, September and October 2015) on SRFI. A tiny form of Complacency we have seen lately on Financials. ​(See Chart below, Top Panel - Blue Trendline)